Scotiabank Issues Pessimistic Forecast for BXP (NYSE:BXP) Stock Price

Key Points

• Scotiabank has reduced its price target for BXP from $81.00 to $77.00, maintaining a "sector perform" rating, indicating a potential upside of 8.99% from its previous close.
• Several other analysts have also downgraded BXP, with UBS lowering its target to $68.00 and Wall Street Zen changing its rating from "hold" to "sell."
• BXP recently reported earnings of $1.71 per share, exceeding analysts' expectations, with revenue of $868.46 million, marking a 2.1% year-over-year increase.

BXP (NYSE:BXP - Get Free Report) had its price objective decreased by equities researchers at Scotiabank from $81.00 to $77.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's target price suggests a potential upside of 8.99% from the stock's previous close.

A number of other equities research analysts have also issued reports on the company. Wall Street Zen lowered BXP from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. UBS Group dropped their price target on BXP from $80.00 to $68.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Truist Financial lowered their price objective on BXP from $75.00 to $71.00 and set a "hold" rating for the company in a research report on Tuesday, May 27th. The Goldman Sachs Group lowered their price objective on BXP from $76.00 to $68.00 and set a "neutral" rating for the company in a research report on Thursday, August 14th. Finally, Morgan Stanley increased their price objective on BXP from $62.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, BXP presently has an average rating of "Hold" and a consensus target price of $76.73.

BXP Price Performance

Shares of BXP stock traded down $0.40 during trading hours on Thursday, reaching $70.65. The company had a trading volume of 133,449 shares, compared to its average volume of 1,523,012. The company has a debt-to-equity ratio of 2.06, a quick ratio of 3.76 and a current ratio of 3.76. The stock has a fifty day moving average of $68.17 and a 200-day moving average of $67.44. The company has a market capitalization of $11.19 billion, a price-to-earnings ratio of 2,355.62, a PEG ratio of 3.84 and a beta of 1.17. BXP has a 12-month low of $54.22 and a 12-month high of $90.11.

BXP (NYSE:BXP - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.67 by $0.04. The business had revenue of $868.46 million during the quarter, compared to analyst estimates of $845.09 million. BXP had a return on equity of 3.89% and a net margin of 0.11%.The business's revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.77 earnings per share. BXP has set its FY 2025 guidance at 6.840-6.92 EPS. Q3 2025 guidance at 1.690-1.71 EPS. On average, equities analysts anticipate that BXP will post 6.91 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Pacific Heights Asset Management LLC lifted its stake in BXP by 66.7% during the first quarter. Pacific Heights Asset Management LLC now owns 100,000 shares of the real estate investment trust's stock worth $6,719,000 after purchasing an additional 40,000 shares in the last quarter. NewSquare Capital LLC lifted its stake in BXP by 98.3% during the first quarter. NewSquare Capital LLC now owns 108,363 shares of the real estate investment trust's stock worth $7,281,000 after purchasing an additional 53,727 shares in the last quarter. Tredje AP fonden lifted its stake in BXP by 801.4% during the first quarter. Tredje AP fonden now owns 107,921 shares of the real estate investment trust's stock worth $7,251,000 after purchasing an additional 95,948 shares in the last quarter. Deutsche Bank AG lifted its stake in BXP by 30.6% during the fourth quarter. Deutsche Bank AG now owns 949,603 shares of the real estate investment trust's stock worth $70,612,000 after purchasing an additional 222,284 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of BXP in the first quarter valued at $14,737,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.

BXP Company Profile

Boston Properties, Inc NYSE: BXP (BXP or the Company) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.